This report describes a preliminary economic (cost-benefit) analysis of deep-sea minerals (DSM) mining in the Pacific Island region. Since mining has yet to occur anywhere in the world, the analysis is based on realistic yet hypothetical mining scenarios developed for three mineral deposits thought to have a high potential for economic viability:
- Seafloor-massive Sulphide (SMS) Deposits in Papua New Guinea (PNG),
- Polymetallic Manganese Nodules (MN) in the Cook Islands, and
- Ferromanganese Cobalt-rich Crusts (CRC) in the Republic of Marshall Islands (RMI).
In each country, costs and benefits are assessed from the perspective of citizens of the host country based on the operation of a single mine site. To the extent possible, costs and benefits are quantified and monetised in order to estimate the net social benefit (NSB) to the people of the host country. Where costs and benefits could not be monetised, they are identified and discussed qualitatively.